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’The S&P is heading for 800
That’s the message from Bob Janjuah, RBS’s Chief Markets Strategist in his latest missive titled “Happy Christmas, Cold Turkey Time”:
We said in late Aug that S&P would get to 1100/1120 by end Oct/early Nov.
Greenspan sees bottom to house price slump
Alan Greenspan, former Federal Reserve chairman expects that US house prices will begin to stabilise in the first half of next year, the Wall Street Journal reports. “Home prices in the US are likely to start to stabilise or touch bottom sometime in the first half of 2009,”
This one can’t be pinned on Greenspan
So declares Fannie Mae’s mission statement, attached to all communications by the government-sponsored enterprise:
Fannie Mae is a shareholder-owned company with a public mission. We exist to expand affordable housing and bring global capital to local communities in order to serve the U.S.
Bernanke is no Toto to the Wizard of Oz
There is a lot of friction between politicians and central banks. So much heat, so little light. Lawmakers are throwing their weight around.
The Bank of England alone is still ahead of the politicians.